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Cryptocurrency exchange Bybit announced on Saturday that it will enable investors to participate in the tokenized initial public offering linked to Elon Musk’s aerospace giant, SpaceX.
The offering will be via Bybit IPO Express, a platform that lets users submit a subscription request for a tokenized representation of an IPO.
Eligible users can sign up for the SpaceX IPO offering and submit subscription requests using supported cryptocurrencies, including USDC (CRYPTO: USDC) stablecoin, until early Thursday. Once these requests are submitted, the subscription funds will be temporarily locked until the allocation process concludes.
Upon the completion of the allocation process, SpaceX will officially begin spot trading on the platform on Friday.
The wait is over. Eligible VIP and PRO users can now access the SpaceX IPO through IPO Express on Bybit. 🚀
Subscribe with USDC, receive allocated tokenized shares, and trade them on Spot after listing.
Apply now: https://t.co/XLOwOYvc5M pic.twitter.com/eJCnWEPzFe— Bybit (@Bybit_Official) June 7, 2026
Bybit stated that the final allocation will be determined based on the underwriter's allocation rules and the overall subscription demand, and that it doesn’t guarantee any “minimum allocation amount.”
“Participants are typically shown an indicative price range during the subscription phase, while the final offer price is set shortly before listing. The final offer price may fall outside the indicative range in exceptional circumstances,” the cryptocurrency exchange added a disclaimer.
Bybit also clarified that tokenized shares do not confer ownership in SpaceX and holders have no shareholder voting rights, dividend rights, or direct claims against the underlying issuer.
Bybit’s offering comes in the wake of reports that SpaceX is aiming to raise $75 billion through its IPO. The firm submitted an amended S-1 filing with the SEC last week, revealing a few changes, like a lock-in period of 366 days for Musk-owned Class B shares
The company had earlier outlined a $28.5 trillion market opportunity for SpaceX, most of which was tied to the company's artificial intelligence pursuits.
The development came amid a sustained push by companies to expose investors to cryptocurrency versions of stocks. Robinhood Markets Inc. (NASDAQ:HOOD) launched tokenized stocks for its European customers last year, including offerings such as SpaceX and OpenAI.
SEC Chair Paul Atkins teased a so-called "innovation exemption" earlier this year. The proposal aims to give qualified firms a regulatory sandbox, a limited window to issue and trade tokenized securities on-chain under lighter-touch compliance conditions, while still operating under SEC oversight.
